All Forum Posts by: Hussain Harun

I agree with @Chris Heeren and @Clint Farlinger. WI Mutual all the way!

I agree with Russ. Pictures pictures pictures! Also, most states have a deadline that you have to get their security deposit statement back to them after moving out so make sure not to miss that. In WI it is 21 days.

Hi Jake,

It seems like you want to buy rentals in the future so my thought is that if it makes sense to rent it, then rent it because that'll just be an extra unit in your portfolio. The problem is that I"m gonna have to agree with Greg and say that it probably won't be a profitable rental. I don't know much about the Wausau market but I took a gander on craigslist for 3 bedroom places available in your area and it seems like im seeing between $650 to $1100 per month. Even on the higher end of the spectrum, you'd only be leaving yourself like $300 give or take for vacancy, repairs/maintenance, and capital expenditures (assuming your $730 payment includes taxes and insurance) to break even from a cash flow standpoint....

My initial thought is it will not make a good rental but if I were you I would use the rental calculator here on bigger pockets and see if you can get a more accurate analysis. For estimating rents I like rentometer, craigslist, zillow, and asking other renters in your neighborhood.  

Good luck!

-Hussain

Hi All,

I was considering getting my real estate license to aid in my real estate investing (which is a controversial topic I know). Anyways, I was looking for a broker to work with after I get my license. I was hoping to do deals for myself and family/friends as they arise. I approached Century 21 brokerage in Madison, WI and they did not like the idea of me only committing to doing a couple deals a year. I was hoping for recommendations for a broker in or around the Madison, Wisconsin area that would let me operate as agent in this capacity. If things go well, I wouldn't be opposed to increasing my transaction volume as time goes by.

Any recommendations or leads would be appreciated!

Thank you 

Hi Charity, welcome to BP. I am in the Baraboo/Dells area myself and would love to connect! 

Hi Gerrit,

Baraboo isn't bad. I like it as a better rental market than Madison. The rents in generally are lower than Madison but the purchase price to rent ratios, however, are better here than Madison which make it so there are more investor friendly deals. 

I only have about year of experience owning property in the Baraboo area but overall it's not bad. No odd city rules or anything. I can find lots of handyman up here but limited amount of licensed trade specific contractors. 

Are you thinking of investing in the Baraboo area?

Hussain

Welcome to BiggerPockets Tom! I'm in the Madison area myself. BP has been a great resource for me. I've been dragging my feet to get back to the Madison REIA but tomorrow night is the general session so I think I'm going to check it out again!

Hi All,

This is a pretty cut and dry question but I couldn't find it explicitly laid out in the WI 704 law chapter. Anyways, I have a one year lease that will be ending November 12th, 2016. I want the tenant to leave at the time. I'm using the standard lease from the Wisconsin Realtors Association that states "This lease is only for the slated term and is NOT automatically renewable. Landlord and Tenant must agree in written if tenancy is to continue beyond the last day of the rental term"

My question is: I can send the tenant a letter saying I'm not renewing their lease and they have to be out on the November 12th right? Even though it doesn't fall at the end of rental pay period (they pay rent on the 1st)?

Thank you!

I would say personally when it comes to small multifamily properties, the only reason people include utilities in the rent is because they can't be separately metered or spilt up in a legal way.  Anything that can be passed to the tenants is passed to the tenant and rents are adjusted according.

I know there is a lot of threads about installing but none that talk in depth about portable A/C units...

Backstory: I purchased a 3 bed, 2 bath duplex in Baraboo, WI which rents for $995. Its about 1200 sq ft. It currently has a boiler with baseboard heating. No duct work currently. It seems like the majority of the rentals in my area come with some type of AC. In the past tenants have used window ACs but have resulted in significant water damage in the walls.

Question: I was considering alternatives to window ACs including: central AC, split mini ductless AC, through the wall ACs, or portable ACs (ones that look like dehumidifiers). Central and split mini ductless would run me at least $3900 per side from the quotes from installers. Through the wall is cheaper but an eye sore (for the neighborhood) and pain when looking for replacements.

So I"m wondering why nobody uses the little portable ACs? Particularly ones that is self evaporating so no pan to clean up under. I was thinking of buying them for tenants. Seems like a good investment to avoid costly water damage for poorly installed window ACs?